Before you start your home renovation project, you should take the time to calculate your costs. There is no “one-size-fits-all” price for these projects. Depending on the materials, contractor, and time frame, your costs can range from a few hundred to several thousand dollars. Remodeling can even vary between low-supply and high-demand markets. If you want to renovate your home, here is a general guide for your project’s expected costs.
Planning Your Renovation
If you want a basic retouch of your kitchen, you might be able to complete it for under $500. Those small cosmetic changes tend to have a lower price tag. For a major construction project, you can expect to spend around $500,000. When you add square footage or knock down a wall, the project will see a significant rise in costs. Any mechanical or structural changes require additional money from you.
Renovating Your Kitchen
Kitchen upgrades can either be cheap or expensive. You want to keep those costs lower by using the kitchen’s existing footprint and old fixtures. With a little fresh paint and new hardware, you can spruce up an outdated kitchen. A minor kitchen cosmetic update ranges from $500 to $20,000. For simple projects, you can complete your own work for less money than a contractor. If you want to go with a professional company, you can expect to pay about $20,000 to $120,000 for a complete kitchen remodel.
Bathroom Additions and Updates
Like a kitchen remodel, bathroom upgrades range from minor to extensive. If you need to change the room’s plumbing, it adds to your project’s costs. Cosmetic changes require less money to upgrade to your space. Many surface remodels cost about $1,000 to $15,000. A complete remodel of the room will cost around $4,000 to $50,000. You can “plus” up your home with a new bathroom addition. However, these projects have a price tag of $45,000 to $85,000.
Painting
For those smaller jobs, you can calculate an interior painting project’s cost by its square footage. Believe it or not, larger jobs have lower costs than those little projects. With this type of renovation, most of the cost involves preparation work. The price of the paint will vary with specific brands and finishes. If you want to repaint a wall, you can expect to use two different colors. You need one paint for the walls and a second color for the trim. Many professional painters also recommend using a flat white for the ceiling. The cost to paint a square foot of your room will be around $1.75 to $3.50.
Flooring
After several years of use, you might want to spruce up your exterior spaces, especially the flooring. You will have to make a few decisions for this project. Hardwood floors are more expensive than carpeting. You can save some money on the project by refinishing your existing hardwood floors. Depending on the wood type, color, and finish, the pricing of the hardwood can vary. Hardwood floors run about $3 to $10 per square foot. For the installation, the price is $3 to $7 per square foot. Those expensive woods, like exotic hardwoods, will cost you a few more dollars.
For those new carpets, you never want to skimp on the padding. Thicker pads provide a more comfortable feel to your carpet. With a carpet installation, you can expect to pay $3 to $9 for materials and installation.
Window Replacements
If your windows are old and drafty, it is time for a replacement. New windows will improve your home’s appearance, and they can help your house boost its energy-efficiency throughout the year. With older windows, your home’s heating and cooling costs could be on the rise. You can avoid all those issues with a window replacement. On average, a window replacement costs around $150 to $750 per window. Double-hung and casement windows are some affordable choices. If you want a specialty window, like a bay window, these projects are more expensive. They may cost up to $2,000 to install in your home.
Siding
Siding is the perfect way to keep up your house’s appearance without the need to repaint every year. On an average-size home, the price can range anywhere from $4,500 to $5,700. The average cost of vinyl siding is about $3.50 per square foot. If you use high-quality materials, then the price increases to $7 per square foot.
Roofing
When you decide to replace your roof, it will be one of the most expensive upgrades for your home. Based on the type of roof, roof grade, and materials used for the project, the costs can vary. If you decide to use asphalt shingles, you can expect to pay $120 to $400 per 100 square feet. Slate and terra cotta are a little more expensive as they carry a price tag of $800 to $4,000 per 100 square feet. Metal roofs are gaining in popularity for many homeowners. If you want to add it to your roof, you can expect to pay $500 to $1,800 per 100 square feet.
Finishing Your Basement
Many homeowners can add livable space to their home without a new addition. If you want more room for your home, you might want to think about improving those existing spaces. An unfinished basement is a perfect spot to convert into an independent living space. You can use it as a basement apartment or in-law suite. However, these projects have hidden costs. For most jobs, you need to purchase new lighting, flooring, and drywall for space. In some basements, plumbing or electricity must be reconfigured. You might even have to replace some ductwork. As you can tell, the costs can quickly add up for this project. The prices for these home improvements can vary from project to project. If you want to hire a professional contractor, you will need to pay $20,000 to $100,000. You can do-it-yourself to lower the costs to $15,000 to $25,000. Prefabricated basement finishing systems are popular choices for many homeowners, but the price tag ranges from $50,000 to $75,000.
Home Additions
If you really need space for your home, then it might time to create an additional room. You can add some space to your home, but these projects come with a hefty price tag. They also don’t offer much return on your home’s value. Many homeowners add some more space with an enclosed sunroom or porch. Without the need for plumbing, ductwork, or wiring changes, these places are the least expensive areas to create more space. If you want to enclose a porch, it will cost about $7,000 to $15,000. A sunroom addition will be about $15,000 to $23,000 without installation. You can go big and create multiple additional rooms. With all those additional materials and labor, you can expect to pay $150,000 to $500,000.
Overlooked House Renovations
New flooring and home additions add some appeal to your home, but there are other renovations that you might have to complete for your house. Some of these renovations are necessary for the stability and safety of your home. If your home has any foundation problems, you want to get those issues fixed. With the average foundation repair, you can expect to pay between $1,800 to $6,500. Some minor repairs might even cost as low as $500. However, if there is major structural damage, you could have to pay over $10,000.
Since every house renovation is different, there is no real way to determine your exact costs. However, there are some other things that you need to consider for your project.
Size and Age of The House
If you have a larger house, then you can expect to pay more for remodeling costs. In addition to that, the structure’s age also plays a significant role in determining prices. All the components in your home have a lifespan. When you have lived for many years in your home, you can expect to replace those essential parts. Some of these components last longer than others. Plumbing can last for about 40 years, but carpeting may need to be replaced after less than a decade of use. Even the wiring and pipes will have to be eventually replaced in your home. When you need to fix the beams and foundation, you can expect to reach deep into your pockets.
Location
Throughout the country, materials and labor have different price points in different markets. In your area, your labor costs may be more expensive than in other parts of the country. If you live in a place with contractors and laborers vying for work, then you could find cheaper labor for your project. However, any specialized work that requires skill and licensing may add to the cost of your project. For the most part, material costs do not have a wide range of prices. The sales tax can vary by state, and that could add to your expenses.
Permits
Most local municipalities charge a fee for a permit. In many cases, these permits can range from $100 to $3,000. Before you start a home improvement project, you can reach out to your local government to determine the costs of these permit fees. If you work with a contractor, they usually handle the permitting costs for you. The price is added to your project’s estimate. When you file for a permit, a local inspector might come out to check on your work. For some projects, they may ask you to complete additional work to keep your house up to the local building code. You might want to leave some room in your budget for those extra projects that have to satisfy the local building regulations. You can avoid all those hassles when you hire a licensed contractor. They understand what needs to be done, and they will complete the job according to the local ordinances. You never want to cut corners on your job.
Materials
With any home renovation project, you need materials to complete the job. If you purchase lower costing materials, your project costs are cheaper than those who use high-quality products. While you may be tempted to use inferior materials, it can affect the appearance of your home. You should always purchase high-quality materials for your project, especially for flooring, roofing, and windows. After a few years, those less expensive materials might need to be replaced. It is better to spend a little money up front and not worry about any issues down the road.
Prices Can Vary
Unfortunately, there is no magic formula to figure out the costs for your specific home renovation. You will have to research the cost of similar projects in your area. These prices are a guideline to what you can expect to pay for your particular project. Various factors can raise or lower your home costs, including local labor costs, quality of materials, size of the home, and structure age.
Some of these simple projects can be completed by yourself, but you want to leave the hard work to the professionals, especially siding, roofing, and window replacements. It is essential to find the right contractor for your home’s renovations. These professionals can help you work within your budget and find suitable materials to meet your home’s needs. They can also help to secure those permits for any construction projects. With a reliable contractor, you will get a detailed estimate of the job. You can compare those costs to other companies in the area. With this information, you will find the right construction company for your next home improvement job.
Let Us Help With Your Home Improvements
If you are ready to repair or replace the windows, roofing, or siding on your home, then it is time to call the team at RGB Construction. We have the expertise to complete the job to your satisfaction. We will work with your budget to get the best look for your home. In addition to that, you can have confidence that your project is handled by a team of licensed construction professionals. You can schedule a consultation by calling the office at 856-264-9093.
